Profund Advisors LLC Boosts Holdings in Synopsys, Inc. (NASDAQ:SNPS)

Profund Advisors LLC increased its holdings in Synopsys, Inc. (NASDAQ:SNPSFree Report) by 21.2% during the fourth quarter, Holdings Channel reports. The firm owned 14,754 shares of the semiconductor company’s stock after acquiring an additional 2,581 shares during the quarter. Profund Advisors LLC’s holdings in Synopsys were worth $7,597,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in SNPS. Norges Bank bought a new stake in Synopsys in the 4th quarter worth approximately $1,272,143,000. Ameriprise Financial Inc. increased its stake in Synopsys by 20.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,041,275 shares of the semiconductor company’s stock worth $925,744,000 after acquiring an additional 344,430 shares during the last quarter. FMR LLC increased its stake in Synopsys by 8.9% in the 3rd quarter. FMR LLC now owns 4,032,059 shares of the semiconductor company’s stock worth $1,850,594,000 after acquiring an additional 330,206 shares during the last quarter. Wellington Management Group LLP increased its stake in Synopsys by 228.8% in the 3rd quarter. Wellington Management Group LLP now owns 386,773 shares of the semiconductor company’s stock worth $177,517,000 after acquiring an additional 269,130 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Synopsys by 25.8% in the 4th quarter. Van ECK Associates Corp now owns 929,376 shares of the semiconductor company’s stock worth $478,545,000 after acquiring an additional 190,330 shares during the last quarter. 85.47% of the stock is owned by hedge funds and other institutional investors.

Synopsys Price Performance

Shares of Synopsys stock traded down $4.35 during trading on Thursday, hitting $586.54. The stock had a trading volume of 567,695 shares, compared to its average volume of 1,114,025. Synopsys, Inc. has a 12 month low of $416.87 and a 12 month high of $629.38. The firm’s fifty day simple moving average is $557.91 and its 200-day simple moving average is $551.65. The stock has a market cap of $89.87 billion, a PE ratio of 63.75, a PEG ratio of 3.72 and a beta of 1.08.

Synopsys (NASDAQ:SNPSGet Free Report) last announced its quarterly earnings data on Wednesday, May 22nd. The semiconductor company reported $3.00 earnings per share for the quarter, missing analysts’ consensus estimates of $3.03 by ($0.03). Synopsys had a net margin of 23.05% and a return on equity of 22.66%. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business earned $1.76 EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year. Analysts expect that Synopsys, Inc. will post 9.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SNPS shares. JPMorgan Chase & Co. lifted their price objective on Synopsys from $650.00 to $655.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $672.00 price objective (up from $665.00) on shares of Synopsys in a research note on Thursday, May 23rd. Rosenblatt Securities reiterated a “buy” rating and set a $615.00 price objective on shares of Synopsys in a research report on Thursday, May 23rd. Needham & Company LLC restated a “buy” rating and issued a $660.00 target price on shares of Synopsys in a report on Thursday, May 23rd. Finally, StockNews.com upgraded shares of Synopsys from a “hold” rating to a “buy” rating in a report on Monday, March 18th. Eleven analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Synopsys has an average rating of “Buy” and a consensus target price of $616.18.

View Our Latest Stock Report on SNPS

Insider Activity at Synopsys

In related news, Director Marc N. Casper acquired 750 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average price of $585.45 per share, for a total transaction of $439,087.50. Following the acquisition, the director now directly owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Synopsys news, Director Marc N. Casper bought 750 shares of the business’s stock in a transaction on Monday, March 25th. The shares were acquired at an average price of $585.45 per share, with a total value of $439,087.50. Following the transaction, the director now owns 1,736 shares of the company’s stock, valued at approximately $1,016,341.20. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John F. Runkel, Jr. sold 5,319 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $579.37, for a total transaction of $3,081,669.03. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $11,587,400. The disclosure for this sale can be found here. Insiders sold 23,288 shares of company stock worth $13,527,485 in the last 90 days. 0.66% of the stock is owned by corporate insiders.

About Synopsys

(Free Report)

Synopsys, Inc provides electronic design automation software products used to design and test integrated circuits. It operates in three segments: Design Automation, Design IP, and Software Integrity. The company offers Digital and Custom IC Design solution that provides digital design implementation solutions; Verification solution that offers virtual prototyping, static and formal verification, simulation, emulation, field programmable gate array (FPGA)-based prototyping, and debug solutions; and FPGA design products that are programmed to perform specific functions.

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Institutional Ownership by Quarter for Synopsys (NASDAQ:SNPS)

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